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# R2 X, h! U- N1 a ~Below is an Interesting article I found, which says that.....Do not ) X! Y; t) C: x: p
expect much from Crude Oil producers and future is not with the 0 J' m- `6 f: r N( k r$ G
companies producing Jet fuels but Biofuels. Also no wonder if some of - W$ Z9 j- n( y1 |$ C1 S6 |
these oil producer will go bankrupt or out of the business even if T1 H6 m* y0 S" e2 v" T; |9 q
crude prices improves. This implies also to good names such as Shell, $ g, X* S8 m" }! K% S. z
EXXON, BG, BP, Cheveron ....xyz.. oils
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' A: U( W9 r* N9 T; h/ h' X- rRecently OPEC reduced crude oil production twice over just a few ! B* U8 f$ v8 L
months. There are three wars going on in Gaza, Iraq and Afghandistan.
: a; s0 {3 f/ @& _! e2 @A year ago these things would have spiked the price of crude oil by at 2 X& V9 m& l8 g2 y ~! x
least $50.00 per barrel. Today, oil price declined by a record amount.
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There are several reasons the price of oil is decreasing in the face
0 m8 M6 A7 t& M Z1 o$ x1 Aof so much news. These reasons are:
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* L8 ]0 L* D9 t( T0 Z& u2 U# ?1. New oil has been found in Canada, Montana, North & South Dakota and
. a( p7 Z$ l ]2 \in the ocean near Brazil. Each of these oil fields has more oil than , _. E3 Y0 }) k1 S
Arabia. / n7 ]$ h6 Y' E/ u2 w( t! k
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" G9 c/ \* Q8 b2. New natural gas has been found in Pennsylvania and West Virginia. , S7 h( c9 T8 a* l" m
This is the largest find in North America. $ F" R* P, D, Q" \, d: e" ^% [( o
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& T! X2 C' i, w. Z. h3. New methods of injecting CO2 and surfactants into oil wells is / m4 ^" n& B% y5 z) S4 g0 w: ?
being used to double their output. 5 L: ~: n) E7 e0 I! G6 C
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8 G- n2 N# T. e j1 G4. Production of bio-fuels is beginning to reach critical mass. Bio
/ K6 z8 T+ `8 Y L( i. c/ h$ L$ b6 Lfuel is being produced from many plants and algae. The production ( H6 r2 s a( k7 r1 ]1 {
potential per acre in some cases is astounding. Many countries are
; l ?! R% G) F7 k% K3 @racing to produce bio fuels.
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* \( A4 o- J: r( V2 u5. Virtually every restaurant in the US and all food processing plants
, q. a7 x2 g& x& T& Iare now selling their used oil to bio-diesel producers. Every pork, ' P e5 l; g. \" D ~
cattle, turkey and chicken processing plant will soon sell their fat
: m. l9 z2 h5 A/ X' ?to bio-diesel producers. One pork processing plant in Oklahoma is ' F; a. X3 U* a( S, G
producing 30,000 gallons of bio-diesel per day from pork fat.
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6. There are 99 nuclear reactors in various stages of planning and
) d; r! i& H, G" j. Iconstruction around the world at this time. Several hundred more are 8 n3 O1 j' l+ Z e3 ?
expected to be built in the future. Much of the energy they produce
; U$ a4 m6 N* r" H0 q0 s# ?will replace oil.
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0 v+ _% [! U# S7 G5 J1 l2 E7. Every company in any form of transportaion business is replacing
7 c: p" U) b6 Z) V4 golder equipment such as trucks, airplanes, train engines, ships, etc. , Z' x- V& W$ b
with new more fuel efficient equipment. Airlines and railway companies . |0 X+ q0 X, T/ n4 O" h S
are experiencing 20% to 25% better fuel econony with the new
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Airlines are flying airplanes with bio-fuel. They are finding the bio-
6 H, J' X$ X2 l; Rfuel is cleaner and performs better than jet fuel.
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8. Cities and counties throughout the US are selling the rights to 4 @1 x4 x d% p2 r' Z; Q9 r* L
capture methane gas from landfills. This is a huge source of gas
' A! `8 {' N) n/ mavailable at very little cost or risk. The gas is displacing crude $ q+ C7 T; l! k
oil.
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5 T( W; r' B* e G4 n2 p9. Coal is being transformed into a clean burning liquid fuel. The CO2
; e2 c3 @1 y. uproduced as a byproduct is sold to oil companies for injection into
2 m- b2 Q' b: |3 T7 u* ]1 foil wells. ' c0 e* N: t/ D4 F U. v$ v
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6 V; ~. k* d# p% w D% F. N9 ^10. Solar, wind and ocean energy is displacing oil as an energy
# y2 A$ q( a l/ o$ Isource. Three new wind turbines are being erected every day in the US.
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, m1 S: o+ \) g8 p- m! lEach of the above by itself will not make a large difference in the 4 ~5 _; |( z6 g6 v- _
price of crude oil but the sum of all of them together is world
, |$ [2 P* j0 H& u) Q% Tchanging. The important thing is that OPEC no longer has the ability
% ?3 h6 `# n w0 k! i, N) _) jto control oil prices.
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/ w/ Y3 `% \$ t1 @% MWith the above scenario, I still believe that there are under 2 h- e% j: l- Q1 B/ D8 t2 `1 X' C
performed OIL companies and probably they are yet to get the justified
: D* B7 d9 C( F$ U$ \. x; lvalue .....
# H" I4 E- w; w( \. ?IAE- Ithaca , EPL Energy Partners Ltd, Opti etc ...
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% G' s. T9 E D4 d4 `" S- WThe above articles are from WSJ .............PUBLISHED ON 9TH JAN
+ x1 A6 m) d6 d$ d# D, f' B- N4 b2009 ... FYI-Only |
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